u-blox Shareholders Approve Board Motions and Delisting at Extraordinary General Meeting

u-blox shareholders approved all motions proposed by the Board of Directors at the Extraordinary General Meeting 2025, held in Horgen. The approvals include significant leadership changes and corporate restructuring measures tied to the pending acquisition by Advent International. Shareholders elected Claudio Simao as member and Chairman of the Board of Directors, while Ronald Ayles and Bernhard Spetsmann were also elected as members of the Board of Directors until the conclusion of the next ordinary general meeting.

Additionally, Claudio Simao and Ronald Ayles were elected as members of the company's Nomination, Compensation and Sustainability Committee. All elections are subject to, and effective as of, completion of the public tender offer launched by Advent International, L.P. through its indirect subsidiary ZI Zenith S.a r.l. for all publicly held registered shares in u-blox, as announced earlier this year. This represents a major step in the company's transition under new ownership.

Shareholders also approved the delisting of the registered shares of u-blox from the SIX Swiss Exchange, subject to the completion of the public tender offer. The Board of Directors was authorized to implement this resolution following completion of the Public Tender Offer. The delisting marks a significant shift for the global leader in positioning and short-range communication technologies, which has been publicly traded on the Swiss exchange.

The minutes of the Extraordinary General Meeting 2025 will be available on u-blox' website https://www.u-blox.com in the coming days. The company, known for its high-precision technologies that enable people, vehicles, and machines to determine their precise position and communicate wirelessly, is undergoing substantial corporate changes through these shareholder-approved measures.